Fed’s plans to raise rates again go awry

WASHINGTON (MarketWatch) -- The Federal Reserve must feel that its mascot is Wile E. Coyote, whose persistent and ingenious efforts to catch the Roadrunner were routinely spoiled by bad luck and bad timing.

Like the famous cartoon character, the Fed’s efforts to gradually increase interest rates have been derailed by forces beyond the control of the central bank, this time by the decision by U.K. voters to leave the European Union.

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